Moore Capital Management Lp buys $21,053,742 stake in Westlake Chemical Corporation (WLK)

Westlake Chemical Corporation (WLK) : Moore Capital Management Lp scooped up 53,215 additional shares in Westlake Chemical Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 434,815 shares of Westlake Chemical Corporation which is valued at $21,053,742.Westlake Chemical Corporation makes up approximately 1.01% of Moore Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in WLK in the latest quarter, The investment management firm added 809,446 additional shares and now holds a total of 2,023,987 shares of Westlake Chemical Corporation which is valued at $98,001,451. Westlake Chemical Corporation makes up approx 0.17% of Aqr Capital Management’s portfolio. Apriem Advisors sold out all of its stake in WLK during the most recent quarter. The investment firm sold 75 shares of WLK which is valued $3,632. Caxton Associates Lp added WLK to its portfolio by purchasing 160,000 company shares during the most recent quarter which is valued at $7,747,200. Westlake Chemical Corporation makes up approx 0.32% of Caxton Associates Lp’s portfolio. Mitsubishi Ufj Kokusai Asset Management Ltd. sold out all of its stake in WLK during the most recent quarter. The investment firm sold 6,251 shares of WLK which is valued $283,483.

Westlake Chemical Corporation closed down -0.43 points or -0.82% at $52.13 with 1,104,399 shares getting traded on Wednesday. Post opening the session at $52.36, the shares hit an intraday low of $51.51 and an intraday high of $52.67 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Westlake Chemical Corporation reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.96. The company had revenue of $1086.06 million for the quarter, compared to analysts expectations of $1060.36 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.41 EPS.

Many Wall Street Analysts have commented on Westlake Chemical Corporation. Company shares were Reiterated by Cowen on Sep 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Company shares were Upgraded by RBC Capital Mkts on Aug 23, 2016 to ” Outperform”, Firm has raised the Price Target to $ 59 from a previous price target of $47 .Company shares were Upgraded by SunTrust on Jun 15, 2016 to ” Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $44 .

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals vinyls polymers and fabricated building products. The Company’s products include a range of chemicals used in the world which are fundamental to many diverse consumer and industrial markets including flexible and rigid packaging automotive products coatings residential and commercial construction as well as other durable and non-durable goods. The Company operates in two principal operating segments Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC vinyl chloride monomer (VCM) ethylene dichloride (EDC) chlorine caustic soda and through Westlake Chemical OpCo LP ethylene.

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